Tags: FACTBOX-U.S. Energy Companies Slash Jobs as Oil Prices Weaken

FACTBOX-U.S. Energy Companies Slash Jobs as Oil Prices Weaken

Wednesday, 13 May 2015 02:03 PM

(Adds General Electric, Noble Energy; updates Schlumberger, Baker Hughes, Halliburton, Weatherford, Hercules Offshore, Basic Energy Services, Nabors Industries) May 13 (Reuters) - Oilfield giants Schlumberger Ltd and Halliburton Co and many others in the oil and gas industry have announced plans to lay off thousands of people in the past few months as global oil prices have fallen more than 40 percent since June. Brent prices fell to near six-year lows in January, hurt by a global supply glut and OPEC's decision not to curtail production. Oil producers in response have trimmed their budgets and lowered the number of rigs planned for 2015, hurting their suppliers and service providers. Schlumberger, the world's No.1 oilfield services provider, said last month that it expects a delay in the recovery in U.S. land drilling as stringent budgets force energy companies to deploy fewer rigs, pushing services firms to continue discounting. Houston-based Schlumberger also said last month that it plans to cut another 11,000 jobs, bringing the total job cuts announced this year to 20,000 - about 15 percent of its workforce. Halliburton Co, which is buying smaller peer Baker Hughes Inc in a $35 billion deal, said last month it has cut more than 9,000 jobs, or over 10 percent of its global headcount in last two quarters. Baker Hughes said it is cutting 10,500 jobs or 17 percent of its global workforce. Company Job cuts Total no. of Date of no./percentage employees announcement of job cuts Schlumberger Ltd 20,000 jobs About 120,000, as of April 16, 2015 Dec. 31, 2014 Baker Hughes Inc 10,500 jobs About 62,000, as of April 21, 2015 Dec. 31, 2014 Halliburton Co 9,000 jobs More than 80,000 , as April 20, 2015 of Dec. 31, 2014 Helmerich & Payne Inc 2,000 jobs 11,914, as of Sept. Jan. 29, 2015 30, 2014 Weatherford 10,000 jobs in About 56,000, as of April 22, 2015 International Plc 2015 Dec. 31, 2014 Civeo Corp 45 pct in U.S., 3,000 full-time Dec. 29, 2014 30 pct in employees, as of Dec. Canada, from 31, 2014 2014 levels Hercules Offshore Inc About 40 pct of About 1,800, as of April 29, 2015 global workforce Dec. 31, 2014 MRC Global Inc 500, or 10 pct, About 4,947, as of Feb. 20, 2015 since March 2014 Dec. 31, 2014 Expects headcount of about 4,700 by April Basic Energy Services 20 pct lower About 5,700, as of April 23, 2015 Inc than peak of Q4 Dec. 31, 2014 2014 General Electric Co 575 in Texas oil About 44,000 March 25, 2015 and gas division employees (GE Oil & gas), as of Dec. 31, 2014 Parker Drilling Co 8 pct. Expects 3,443, as of Dec. 31, Feb. 19, 2015 10 pct reduction 2014 by mid-year Noble Energy Inc 220 U.S. About 2,200 U.S. April 07, 2015 employees employees ConocoPhillips 7 pct, or about About 19,100, as of March 18, 2015 200 jobs, in Dec. 31, 2014 Canada Enable Midstream About 10 pct About 2,000 employees Feb. 16, 2015 Partners LP and contractors, as of Dec. 31, 2014 Range Resources Corp Closes Oklahoma 990, as of Jan. 1, Feb. 24, 2015 City office, 2015 impacting 100 employees DCP Midstream Partners About 20 pct of About 650, as of Dec. Jan. 30, 2015 LP corporate staff 31, 2014 Ion Geophysical Corp About 10 pct 879, as of Dec. 31, Feb. 11, 2015 2014 EXCO Resources Inc 15 pct 558, as of Dec. 31, Feb. 24, 2015 2014 Laredo Petroleum Inc 75 jobs About 420, as of Dec. Jan. 20, 2015 31, 2014 PostRock Energy Corp 25 pct of staff About 143, as of Dec. Feb. 05, 2015 in Oklahoma 31, 2014; 56 in headquarters Oklahoma headquarters Ensco Plc About 50 pct About 8,500 workers Feb. 26, 2015 onshore as of Feb. 23, 2015 personnel WPX Energy Inc About 8 pct About 1,100 full-time March 2, 2015 employees as of Dec. 21, 2014 Nabors Industries Ltd More than 18 pct About 29,000, as of April 21, 2015 of global Dec. 31, 2014 workforce (Bengaluru Newsroom; Editing by Sriraj Kalluvila, Don Sebastian and Joyjeet Das)

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FACTBOX-U.S. Energy Companies Slash Jobs as Oil Prices Weaken
FACTBOX-U.S. Energy Companies Slash Jobs as Oil Prices Weaken
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2015-03-13
Wednesday, 13 May 2015 02:03 PM
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